Hello,
I started my own used car dealership out in Oregon about 5 years ago, not knowing much about the dealer world, it took some time to learn everything myself, and over time have built everything up through cash deals.
Currently I am only doing about 500k in gross sales. I do a little less volume but I focus on the quality of the deal for us along with low overhead, it has worked well for me.
Currently I am looking into expanding and offering financing for my customers because I do know I am losing out on a ton of leads and potential sales because I do not offer any financing. I also have a loose background in financing so I understand everything there is to know about automotive finance, I just have not gotten around to setting it up to offer to my customers until now.
How do I go about getting started with this?
I do have a website already that has the ability to process financing options on the backend, but do I start calling banks/credit unions to set up relationships with them? Or is there a better more efficient way to get this setup?
Any input or help would be greatly appreciated.
Thank you!
I started my own used car dealership out in Oregon about 5 years ago, not knowing much about the dealer world, it took some time to learn everything myself, and over time have built everything up through cash deals.
Currently I am only doing about 500k in gross sales. I do a little less volume but I focus on the quality of the deal for us along with low overhead, it has worked well for me.
Currently I am looking into expanding and offering financing for my customers because I do know I am losing out on a ton of leads and potential sales because I do not offer any financing. I also have a loose background in financing so I understand everything there is to know about automotive finance, I just have not gotten around to setting it up to offer to my customers until now.
How do I go about getting started with this?
I do have a website already that has the ability to process financing options on the backend, but do I start calling banks/credit unions to set up relationships with them? Or is there a better more efficient way to get this setup?
Any input or help would be greatly appreciated.
Thank you!
